Looking at Flux Insight’s CTA positioning model over the week ending 26 Sep, CTA positioning in middle distillates remains positive, while positioning in Brent is now trending upwards from -14k lots on 23 Sep to -1.1k lots on 26 Sep. RBOB futures remains relatively pressured, with CTA net length moving from -17.9k lots on 23 Sep to -15.4k lots on 26 Sep. Normalising these CTA positions (with z-scores from -50 to +50) highlights that RBOB’s positioning consolidated around -1.5 towards the end of last week. However, it is projected to rise to +3.9 on 29 Sep, signalling near-term support. Meanwhile, Brent positioning is trending close to the overbought territory of +40, which could limit further gains.
Click below to explore our weekly CFTC COT reports, including a new report detailing historical Onyx COT data for key swap contracts.
